The State bank of India (SBI) has signed an MoU with Pondicherry Co-op. Milk Producers’ Union Ltd (PONLAIT) for financing individual dairy farmers up to Rs 3 Lakh. The Loan will be made available through YONO application of the SBI Bank. SBI has introduced a technology product, named ‘SAFAL- Simple And Fast Agriculture Loan’ for financing individual Dairy farmers, who are supplying milk to commercial dairies on a regular basis.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
About the agreement:
Around 3,500 dairy farmers supplying milk to 98 primary milk societies of PONLAIT would be benefited by the arrangement. This was the first MoU signed in the Chennai circle of the bank which plans to enter into such agreements with commercial dairies throughout the country to finance farmers supplying milk to the dairies. The present arrangement to boost milk production with the help of bank loans would help the administration of the union territory to meet the daily requirement of milk.
Important takeaways for all competitive exams:
Miss World 2026 crown gone to Joheirry Mola, representing the Dominican Republic. She won the…
Malaysia has placed the district of Serian in the state of Sarawak in an emergency…
Nvidia has entered into a deal to buy Hugging Face for $12.93 billion, signifying a…
The foreign exchange reserves of India have surged $11.475 billion to reach an all-time high…
Ig Nobel Prize 2026 once again honored scientific research that might seem odd at first…
Teachers’ Day 2026 offers a chance to honor those teachers who influence our thought process,…